Hisense Home Appliances nine-month revenue falls as currency swings weigh
China's Hisense Home Appliances reported a 6% revenue drop and a 34% profit decline for nine months, citing forex effects, according to Reuters.
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what happened
According to Reuters, Hisense Home Appliances' nine-month revenue fell 6% year on year to 67 billion yuan. Net profit attributable to shareholders dropped 34% to 1.85 billion yuan.
The company blamed currency fluctuations, which raised its financial expenses. Asset impairment losses for inventory widened to 101.8 million yuan, while credit impairment turned into a 21.9 million yuan loss. Other income also declined because of lower VAT refunds on embedded software products.
The company gave no guidance for future quarters or the full year. Analysts' average rating on the shares is "buy", and the median 12-month price target is HK$25.75, about 31.8% above the October 22 close.
why it matters
The news is moderately relevant for markets because it concerns a single company, but the forex impact shows how currency moves can hit earnings of appliance exporters. The stock trades at about 7 times forward earnings.
market impact
China appliances: currency-driven costs pressure Hisense Home Appliances earnings
tags
instruments
sources
- China's Hisense Home Appliances nine-month revenue falls on forex impact — Reuters, 23 October 2026 at 08:56 UTC
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